Flutter Entertainment (NYSE:FLUT – Get Free Report) had its target price lowered by stock analysts at Wells Fargo & Company from $112.00 to $86.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 4.28% from the stock’s previous close.
Several other research firms have also recently issued reports on FLUT. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Citizens Jmp decreased their price objective on Flutter Entertainment from $129.00 to $116.00 and set a “market outperform” rating on the stock in a report on Thursday. UBS Group lowered their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Stifel Nicolaus set a $124.00 target price on shares of Flutter Entertainment in a report on Wednesday. Finally, New Street Research set a $110.00 price target on shares of Flutter Entertainment in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $131.74.
Get Our Latest Stock Report on FLUT
Flutter Entertainment Price Performance
FLUT opened at $82.47 on Thursday. The stock has a fifty day simple moving average of $86.04 and a two-hundred day simple moving average of $105.93. Flutter Entertainment has a 12-month low of $72.56 and a 12-month high of $235.77. The company has a market cap of $14.31 billion, a price-to-earnings ratio of -19.18, a price-to-earnings-growth ratio of 3.07 and a beta of 1.27. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.50). The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.99 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. Research analysts predict that Flutter Entertainment will post 3.05 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Don H. Liu sold 565 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the sale, the insider owned 20,441 shares of the company’s stock, valued at approximately $2,000,356.26. The trade was a 2.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 1,762 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $172,429.32. Following the completion of the transaction, the chief executive officer owned 70,452 shares in the company, valued at approximately $6,894,432.72. This represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,681 shares of company stock worth $644,214 in the last 90 days. 0.13% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. M&G PLC increased its holdings in shares of Flutter Entertainment by 3.2% in the 3rd quarter. M&G PLC now owns 146,500 shares of the company’s stock valued at $10,988,000 after acquiring an additional 4,577 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Flutter Entertainment during the third quarter worth approximately $269,000. Hohimer Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at approximately $397,000. Ethic Inc. boosted its holdings in Flutter Entertainment by 21.6% in the third quarter. Ethic Inc. now owns 5,389 shares of the company’s stock valued at $402,000 after purchasing an additional 957 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Flutter Entertainment by 50.6% in the third quarter. Parallel Advisors LLC now owns 917 shares of the company’s stock valued at $68,000 after purchasing an additional 308 shares during the last quarter.
Trending Headlines about Flutter Entertainment
Here are the key news stories impacting Flutter Entertainment this week:
- Positive Sentiment: U.S. revenue was a bright spot in an otherwise disappointing quarter, offering evidence of continued growth in a key market. Article
- Positive Sentiment: An analysis argued that Flutter could be about 35% undervalued after the Brazil impairment, suggesting potential upside if investors look past the near-term hit. Article
- Positive Sentiment: Susquehanna raised its price target to $101 and retained a positive rating, signaling confidence in longer-term prospects despite the weaker results.
- Negative Sentiment: Q3 revenue of $3.874 billion rose about 2% year over year but missed expectations; Flutter reported a $0.18-per-share loss versus analysts’ expected profit. A roughly $873 million Brazil impairment contributed to a net loss exceeding $1 billion. Article
- Negative Sentiment: Flutter cut its full-year outlook after missing Q3 revenue and EBITDA estimates. The company cited a combination of a tax increase, unfavorable football results and Brazil’s betting ban as headwinds. Article
- Negative Sentiment: The company paused share buybacks to prioritize debt reduction and cost savings, while its increased use of FanDuel promotions to attract customers may weigh on profits. Article
Flutter Entertainment Company Profile
Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.
Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, and Sisal and SNAI in Italy.
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